Deduction limit is generating 80% to 85% of expected revenue, the Tax Policy Center estimates
Certain U.S. businesses, including some car dealerships, can legally dodge a cap on tax deductions. Photo: Whitney Curtis for The Wall Street Journal
WASHINGTON—Many business owners can easily—and legally—dodge the $10,000 cap on state and local tax deductions, and that costs the federal government as much as $20 billion a year, according to a new estimate by the Tax Policy Center.
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